Trading week begins with stock futures falling
Markets fell Monday evening ahead of the latest Federal Reserve meeting minutes and a flurry of economic data. Dow Jones Industrial Average futures fell 72 points, or 0.2%. Nasdaq 100 futures fell 0.44% and S&P 500 futures lost 0.28%. In 2022, all three major averages closed with their steepest losses since 2008, ending a three-year winning streak. At 33,147.25, the Dow ended the year down about 8.8% and 10.3% from its 52-week high. The S&P 500 is now more than 20% below its record high at 3,839.50, down 19.4% for the year. The Nasdaq lost 33.1% last year. Starting in 2023, it’s down almost 34% from its previous record, 10,466.88.
In the first trading week of the year, investors will receive a wealth of data. Investors will be watching closely to see if there is a chance to recover from the 2022 carnage by adjusting their portfolios. There is a big day ahead of us on Wednesday with the JOLTS, or Job Openings and Labor Turnover Survey, due out in the morning. In addition, the Fed minutes will be released in the afternoon. They’re also looking forward to Friday’s December jobs report, the last employment report the Fed will have to consider before its next meeting on February 1. There are also several speeches by Fed presidents scheduled for Thursday and Friday.